PRIVATE & CONFIDENTIAL

 

 

<Insert Date>

 

<Insert Name>

<Insert Employee #>

<Insert Current Business unit e.g. SCM>

 

 

 

Dear <Insert Name>

 

 

Internal Transfer from <insert current business unit> to <insert the new business unit>

 

We, <insert company entity> “the Company” are pleased to congratulate your internal transfer with promotion, which will be effective from <insert effective date> as <insert External/Business Title>.  This position holds an internal title of <insert internal title> at Job Band <insert job band>

 

You shall be reporting to <insert immediate manager’s title> in this business unit. 

 

Revise Compensation and Benefits

 

1.1        Salary

 

You will be paid a salary of <insert Currency><insert Amount> per month, payable monthly in arrears (or such other amounts as may from time to time be agreed in writing) on the <insert day in the month> day of each month.  Your basic salary shall be subjected to an annual review in accordance with Company policy, at the sole discretion of the company. You will be responsible for personal income tax on your salary.

 

The payment of your salary shall subject to such statutory deductions, including the withholding tax which the Company is required by law to withhold from your salary, as may be required in accordance with applicable legislation in force from time to time.  

 

<insert as applicable if changes arise due to the promotion>

1.2        Bonus Entitlement

 

You will be eligible for the Company’s Team Incentive (CTI) plan, which pays <insert %> of annualised base salary at target but subject to the Company’s sole discretion.  This is based on both the Celestica Inc. group of companies and your business unit meeting business targets.  Personal achievements and performance will also influence the overall payment determination. 

 

1.3        Other Benefits

 

The Company offers a variety of benefits to assist you and your family, including leave time and health care plans.  You will enjoy all benefits in accordance with the Company’s prevailing policy and practices.  (A summary of these benefits is attached).

 

 

 

 

<insert as applicable if changes arise due to the promotion>

1.4        Stock Option Grant

 

If you accept this offer of employment, you will be granted options to purchase up to <insert grant amount in unit(s)> subordinate voting shares of Celestica Inc.  The CEO reviews and approves grants in accordance with Celestica Inc. policies at the beginning of each month.  The options will be granted on the business day following CEO approval.  The exercise price of these options will be equivalent to the closing market price of the shares on the last business day prior to the grant. 

 

The options are subjected to the terms and conditions set out in the Company’s Long Term Incentive Plan, (the “LTIP”), have a 10-year term and vest at 25% annually over 4 years.  Conditions imposed pursuant to the LTIP include, among other things, provisions requiring employees to repay option gains under certain circumstances, including joining a competitor within 12 months of exercising the options.  A statement will be forwarded to your attention outlining pertinent option information following the grant. 

 

 

I believe this to be an excellent opportunity for you to continue your excellent contribution to the company and remain as part of the Company's exciting future.  Please indicate your acceptance by signing the duplicate copy of the Transfer Letter and return to us. 

 

 

Your Sincerely,

<insert company entity>

 

 

 

 

 

<insert HR BU Prime’s Name>

Human Resource Manager

 

 

In accepting the above Internal Transfer within <insert company entity>, I, ________________ (NRIC: __________), hereby agree to abide by the terms and conditions set out in the above Transfer Letter and all policies and regulations of the Company as may be amended from time to time. 

 

 

 

 

______________________________                                                        ______________________

Name & Signature                                                                                  Date